Rural Economy Fund
no fixed amount
Grant
Description:
The Rural Economy Fund (REF) recognizes the important contribution rural communities make to New Brunswick’s economy, and the unique challenges they face in becoming prosperous.
The REF aims to help rural regions in strengthening and growing local economies by supporting local, and/or regional priority initiatives in the following categories:
Comments on Funding:
Level and Type of Assistance
The REF may assist, in the form of a non-repayable financial contribution at the
following levels:
• Up to 40% of provincial contribution towards eligible expenditures with a maximum of 50% under extenuating circumstances to non-profits, municipalities, Regional Service Commissions and First Nations.
• Up to 20 % of provincial contribution (with exceptions up to 35% under extenuating circumstances) towards eligible expenditures in all other projects.
• Maximum contribution under this fund is $1,000,000.
• Funding commitments for individual initiatives will not exceed three fiscal years.
Continuous Intake
Eligibility:
Applicants must be:
1. Incorporated Legal entities such as a not-for-profits, municipalities, Regional
Service Commissions and First Nations.
2. From an Eligible Rural Area (any incorporated municipality or local government that has a population of less than 25,000 inhabitants as of the most recent Canadian Census).
3. For-profit organization that qualifies under federal-provincial agreements
requiring a provincial contribution.
a. The project is a key sector, regional or provincial priority as identified and supported by the appropriate GNB Department or Agency (examples: strategic economic or tourism infrastructure requests that will increase development and/or competitiveness, pre-commercialization projects, or
market development initiatives).
Application Steps:
Applicants must contact the Regional Development Corporation by email at RDC-SDR@gnb.ca
(506) 453-2277
Documentation Needed:
Applicants must submit:
1. business cases
2. detailed costing
3. engineering diagrams
Other Things to Note:
About the author
Maurice
